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NCDMB to host Africa Local Content Investment Forum

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NCDMB to host Africa Local Content Investment Forum

Lucky MOMOH

ABUJA-THE Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to host the Africa Local Content Investment Forum (ALCIF) at Eko Hotels and Suites, Lagos on Monday, 7th March, 2022.

The event will provide a platform for African leaders in the oil and gas industry and financial sector, financial institutions, regulators, and regional bodies to meet and shape the future of the oil and gas industry in the continent amidst energy transition realities.

Expected at the event are delegates from 18 countries – mostly from the African Petroleum Producers Association (APPO), 140 financial institutions, and 400 participants from around Africa. The event is being facilitated by the Heritage Times and has its theme as “Developing a Pan African Strategy towards Sustainable Funding of Africa Oil and Gas Projects”.

The ALCIF is a sequel to the 1st African Local Content Roundtable hosted by the Board in June 2021 at the NCDMB Towers in Yenagoa, Bayelsa State.

Speaking ahead of the event, the Executive Secretary NCDMB, Engr. Simbi Kesiye Wabote stated that the Africa Local Content Investment Forum would seek to elevate Africa’s indigenous oil producers and national oil companies as the next generation of project producers involved in equity financing of exploration and field development activities.

He said the forum would also position Africa’s oil and gas service companies as funding blocks for research and development of technology required for exploration and production operations and position Africa’s financial institutions as providers of debt financing for oil and gas projects.

He noted that “the ongoing global energy transition is driving most international oil companies (IOCs) to declare commitments to reduce carbon emissions thereby scaling down investments in hydrocarbons development in favour of expanding renewable portfolios.” He added that leading global financial institutions are also reducing or eliminating portfolio allocations to oil and gas projects.

The Board’s sponsorship of the Africa Local Content Investment Forum (ALCIF) is in furtherance of the Nigerian Content 10-Year strategic Roadmap, which has a key aspiration to promote Local Content across the African continent and ensure access to market for oil and gas capacities that have been developed locally. The Board had consistently provided guidance to several African countries on the implementation of local content policies in their jurisdictions.

According to the organisers, the local content policy which has been implemented successfully in the Nigerian Oil and Gas Industry offers one of the most appealing economic development models for a self-reliant and resilient African economy.

They also noted that the energy transition agenda is posing new challenges to Africa in its quest to develop without dependence on finance, technology, and manpower from other geographical locations.

Africa accounts for eight percent of the world’s hydrocarbon reserves, with an estimated 126.388 billion barrels equivalent. The continent contributes three percent of global Gross Domestic Production despite having a population of over 1.373 billion people and being the second largest and second-most-populous continent on earth.

Analysts believe that the continent has the human resource base to leverage its hydrocarbon, minerals, and other natural resources to improve its Gross Domestic Product (GDP) contribution.

 

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NCDMB’s Exec Sec, Ogbe Bags NSE’s Fellowship

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The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe was on Wednesday inducted into the Fellowship of the Nigerian Society of Engineers (NSE).

Biztellers reports that the investiture was performed by the President/Chair-in-Council of the NSE, Engr. Margaret Aina Oguntala, FNSE at a ceremony in Abuja.

Oguntala congratulated the 63 new inductees and urged them to uphold the values of their new position in their field of engineering. She highlighted that engineers have been at the forefront of driving progress and development across various sectors of the economy, notably in the oil and gas industry.

She particularly lauded the ES of NCDMB for his excellent leadership and expertise through the strategic development of local content and in-country value retention, which is a testament to his brilliance in the field of engineering.

Oguntala also applauded the strategic partnership between the NSE, the NCDMB and other stakeholders in the oil and gas industry.

Similarly, the chairman Board of Fellows/College of Fellows, Engr. Kamila Maliki, FNSE, commended the new inductees for their resilience, dedication, and contribution to the field of engineering.

He added that it was not a small feat to be chosen for the investiture due to the rigorous and thorough nature of the selection process.

The ES later was joined by the Managing Director of Setraco Nigeria Limited, Engr. Ziad Mouannes and Senator Patrick Ndubueze for the unveiling of the very first edition of the 2024 NSE Quarterly Magazine.

Some senior officials of the Board who accompanied the ES to the event included the Director, Monitoring and Evaluation, Abdulmalik Halilu, Director, Project Certification and Authorization, Engr. Abayomi Bamidele, and the General Manager, Corporate Communications and Zonal Coordination, Esueme Dan Kikile, Esq.

Before he was appointed the ES of NCDMB, Engr. Ogbe had nearly 30 years top-level career in the field of engineering in the employment of Chevron Nigeria Limited (CNL), before retiring voluntarily to set up his private firm.

His last position at Chevron Nigeria was Construction Services Group Superintendent, and he oversaw 200 personnel, including Nigerian nationals and expatriates.

Other notable positions he held at the company included Offshore Projects Manager, Construction Manager (Lagos, Escravos -Warri), Construction Engineer (San Ramon) in California, United States of America.

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Soldiers Shut Down Banex Plaza After Clash With Traders [Video]

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On Saturday evening, armed soldiers shut down the popular Banex Plaza in the Wuse 2 district of Abuja after a clash between traders and three soldiers over a phone sale dispute.

According to eyewitness Okechukwu Daniel, the incident began on Saturday afternoon when a young military man returned to a phone shop, claiming a phone he bought about a month ago was faulty.

Daniel, also a trader at Banex Plaza, stated that the seller refused to accept the phone back due to the lengthy period that had passed since the sale.

He said “When the phone seller refused to collect the phone back, the young guy threatened him that he will shut down his shop for refusing to collect the phone, and the seller told him to do his worse.

“That was when he got angry and went to one of the barracks close by and brought two soldiers to come and harass the phone seller for him to collect the phone back.

“When the two soldiers got to the phone shop to threaten the seller, he still refused to collect the phone. The soldiers got angry and wanted to use force on him, that was when other traders came to the rescue of the phone seller and beat up the two soldiers.”

Daniel added that after the soldiers were assaulted, they went back to the barracks to gather reinforcements.

When they returned to Banex Plaza to confront the phone seller and other traders, the traders had already fled from their shops.

He added “When over 50 soldiers who were visibly angry got to the plaza, they could not find the traders that beat up their colleagues, so they decided to shut down the plaza by asking everyone to leave. Anyone found around the plaza was asked to do frog jump and other punishment,”

See videos below:

 

 

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EFCC Returns $22k Recovered From Fraudster To FBI

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The Economic and Financial Crimes Commission (EFCC) has confirmed the transfer of $22,000, recovered from a convicted internet fraudster, Hakeem Olanrewaju, to the Federal Bureau of Investigations (FBI).

Dele Oyewale, the commission’s spokesperson disclosed on Saturday that the handover took place in Lagos State on Friday.

Acting Director of EFCC Lagos Zonal Command, Michael Wetkas, expressed appreciation for the collaboration and assured of EFCC’s continued efforts in combating financial crimes.

During the event, FBI’s Legal Attaché Charles Smith praised the EFCC for its action.

He said “The EFCC and FBI work collaboratively together, and it is thanks to the EFCC that we can recover funds of this nature, especially from Business email Compromise, BEC.

“This type of crime cripples businesses in the US, and for them to recover the money within one to two years gives hope to the affected companies and brings some level of justice, even if not all subjects have been identified.

“We hope our relationship continues and fosters a more cohesive partnership between the two agencies. If there’s anything the FBI can do to support this investigation, we will do so. We appreciate this on behalf of the FBI and thank the EFCC.”

On August 15, 2023, Justice Nicholas Oweibo of the Federal High Court in Ikoyi, Lagos, mandated that the funds retrieved from Olanrewaju, serving a two-year prison term for identity theft and impersonation, be returned to his victim in the US.

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